India Ups Local Gas Price

India has increased the regulated wholesale price of locally produced natural gas to $3.06/mn Btu for April-September 2018, a 6% increase compared with the previous six months, the oil ministry’s Petroleum Planning and Analysis Cell (PPAC) said March 28.

PPAC also said that a price cap of $6.78/mn Btu has been set for gas from deepwater fields, ultra deep-water fields and high pressure-high temperature areas; these have higher production costs than onshore fields. The price cap during October 2017 to March 2018 was $6.30/mn Btu. 

The prices will be applicable on the basis of gross calorific value.